My concern is that the approach to this is another “unfunded mandate.” the cost of construction for new buildings and rehabs will skyrocket due to new green rules. Affordable developments will have real problems finding the capital to do this kind of work. As costs to develop increase, more buildings will be high priced “green” condos. More Rent stabilized developments will increase rents due to Capital MCI increases and more units will come out of rent stab. — the unintended consequences of seemingly good policy….

no-permits

you are absolutely right. deblasio doesn’t think about the unintended consequences.

no-permits

deblasio is a bum.

ted

he’s such an idiot. It’s a billion dollars he doesnt have and future tax payers will foot this bill yet again for an untested idea. I hate liberal trolls.

nycbuilder

This is hardly news worthy. While it may have been the case 10-15 years ago, there is now no significant difference in the cost to build green buildings over wasteful, toxic, energy hogging ones. The market has changed, the shift has happened – as has a commitment to “greening” NYC buildings. This is just another step onto what our previous mayor started and tested. Nothing new here.

Crian Bashman

Exactly and when you consider the monthly maintenance and operating expense reduction for landlords, the economic benefits are even greater. Now everyone can put their pitchforks away.

cobblehillite

Good point about cost of green vs. Conventional. I am in the affordable housing management industry and although, in theory, the cost to build green is said to be cheaper and the cost to operate cheaper, there are some issues that don’t make this the case. Green building systems are very complicated and require a maintenance staff that is more educated, higher-skilled and better paid. More complicated systems are more expensive to maintain, parts are more expensive, the need for consultants and engineers are higher. Do you know of any studies comparing the cost of green operation and maint vs. conventional? also, green building operating models are based on optimal conditions. Once you factor in issues like tenant comfort, dealing with an elderly or disable population, green modeling goes terribly wrong